$1.1 BILLION FRAUD: MANHUNT FOR EX-MINISTER ETETE



The Economic and Financial Crimes Commission has launched a manhunt for a former Minister of Petroleum Resources, Dan Etete, who was charged with money laundering and fraud in Italy and Nigeria.
It was gathered that Etete, who was accused of perpetrating a $1.1bn fraud through his company, Malabu Oil & Gas Limited, has been in hiding.
A source at the EFCC said, “We have been trying to contact Etete, but from all indications, he seems to be on the run. Now that he has been charged in an Italian court, the Office of the Attorney General of the Federation will coordinate with the Italian government.
“We have transferred the Malabu fraud case to the AGF and he will decide on the next line of action. It is doubtful that he is in Nigeria, but we will continue to look for him.
“Since he is under investigation in the United Kingdom, Italy and the United States, he will not be able to hide. All the relevant security agencies will join hands in finding him.”
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